Cement News tagged under: corporate
Ambuja Cement Eastern: reject31 May 2005, Published under Cement NewsShareholders of Ambuja Cement Eastern can reject the open offer made by the Holcim and Ambuja Cement India, which is now owned by Holcim and Gujarat Ambuja Cement. Brokers recommendation is predicated on a merger of Ambuja Cement Eastern and ACC. If this happens, we believe the swap ratio would not be adverse to the shareholders of Ambuja Cement Eastern. The acquirers have undertaken to sell a part of their holdings to ensure that the non-promoter holding remains at the pre-offer level and t... |
Raysut Cement to raise capital31 May 2005, Published under Cement NewsOman’s cement producer Raysut Cement Co will increase its capital to 20 mln Omani rials ($51.9m) from 15 mln rials ($39m) it was reported on May 26, 2005. The increase will be carried out via a rights issue of 5.0 million shares at a par value of 1.0 rial ($2.6) and a premium of 2.0 rials ($5.19). The rights issue has already received the approval of the country’s market regulator Capital Market Authority (CMA). |
Brazil Camargo Correa Q1 2005 net profit soars31 May 2005, Published under Cement NewsBrazilian cement maker Camargo Correa Cimentos, a unit of local construction group Camargo Correa, posted a net profit of 62.7 mln Brazilian reais ($26.03m) for the first quarter of 2005, a 328.47 per cent year-on-year surge. The company’s net revenue reached 131.7 mln reais ($54.675m) for the period January to March 2005, up 10.28 per cent year-on-year. Camargo Correa Cimentos’ gross revenue, in turn, totalled 190.5 mln reais ($79.09m) for the three months to March 2005, down 8.63 per cent ... |
Cementos Portland plans investments 2005-200731 May 2005, Published under Cement NewsSpanish cement maker Cementos Portland Valderribas SA (Cementos Portland) plans to invest Euro 450m between 2005 and 2007, the company’s CEO, Jose Ignacio Martinez-Ynzenga, said on May 26, 2005. Of the total investments, 30 per cent will be allocated to environmental preservation. Martinez-Ynzenga addressed the general shareholders’ meeting of the company which posted a 17.1 per cent year-on-year rise in sales between January and May 2005, he added. Spanish construction and services group ... |
L&T FY05 net up 85 per cent31 May 2005, Published under Cement NewsLarsen & Toubro (L&T) has reported a 84.7 per cent increase in net profit to Rs 983.85 crore for the year ended March 31, 2005 as compared to Rs 532.75 crore last year. Net sales grew by 36.9 per cent to Rs 13,091.82 crore from Rs 9561.33 crore last year, a release said. Net profit includes Rs 353.32 crore relating to sale of shares in UltraTech Cement Ltd. The board has recommended a final dividend of Rs 17.5 per equity share in addition to a special dividend of Rs 10 per equity share decla... |
YTL Corp third quarter pre-tax profit rises31 May 2005, Published under Cement NewsYTL Corp Bhd saw its pre-tax profit rising 29.6 per cent to RM317.9m for the third quarter ended March 31, compared with RM245.3m in the same period a year ago. Its turnover for the quarter improved 11.5 per cent to RM1.23bn from RM1.09bn. However, net profit in the third quarter fell 37.2 per cent to RM145.3m against RM231.1m previously. Group pre-tax profit dropped marginally by 0.5 per cent to RM317.9m from RM319.6m in the preceding quarter. YTL Corp said in a statement to Bursa Malay... |
Cimpor higher as analysts hike estimates31 May 2005, Published under Cement NewsShares in Cimpor - Cimentos de Portugal SGPS rose, more than reversing yesterday’s losses, as analysts said they will raise their full-year estimates after the cement maker’s first quarter net profit fell less than expected, dealers said. Cimpor’s sales, EBITDA and net profit were better than expected, and the EBITDA margin in line at 33 per cent, Sonia Baldera of Caixa Banco de Investimento said in a reaction. Caixa BI had expected Cimpor’s results to look weak compared to the year earl... |
HeidelbergCement to increase Indo stake31 May 2005, Published under Cement NewsThe Managing Board and the Supervisory Board of HeidelbergCement AG resolved to further increase the stake in the Indonesian cement company Indocement, which has been fully consolidated since 2004. This will be performed by a capital increase against contribution in-kind without subscription rights in the nominal amount of EUR 16,715,148.80, corresponding to 6,529,355 new shares. The contribution in-kind will be rendered by two companies owned by members of the Merckle family. The issuing pr... |
Ukrainian Balcem To Raise Share Capital27 May 2005, Published under Cement NewsUkrainian cement plant Balcem plans to raise its share capital by 4.94 mln Ukrainian hryvnias (US$981,000/) to 5.49 mln hryvnias ($1.1m) through the issue of 98.74 million ordinary shares. The capital hike is subject to approval by the company’s shareholders’ meeting on June 7, 2005. Balcem, one of the three largest cement producers in Ukraine, closed 2004 with a 27.3 mln hryvnias ($5.4m) net loss. The company’s cement output rose by 16.5 per cent year-on-year to some 1.8Mt in 2004. Balc... |
Bipadosa Sells Stake in Portugal Cimpor27 May 2005, Published under Cement NewsSpanish company Bipadosa Distribucion y Transformacion has sold its entire direct stake in Portuguese cement producer Cimpor, Cimpor announced in a report to the Portugal’s national securities regulator (CMVM) on May 25, 2005. Bipadosa sold a total 12.451 million Cimpor’s shares over-the-counter market on May 17, 2005. Currently Bipadosa controls indirectly 13.484 million Cimpor’s shares, corresponding to 2.007 pct of the company’s share capital and to 2.018 pct of the voting rights in the ... |